According to a recent LinkedIn post from C2FO, the company is involved in a new working-capital initiative in Nigeria called CycleFlow, developed with local fintech partner CycleFlow and support from the International Finance Corporation. The post links this effort to C2FO’s recent recognition by the IFC as Best Supply Chain Trade Partner and frames the project as a way to unlock liquidity tied up in unpaid invoices for micro, small, and medium enterprises.
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The LinkedIn post indicates that the program targets an estimated $40 billion financing gap for Nigerian businesses by offering invoice-based funding through a multi-bank platform that does not require traditional collateral. Citing IFC projections, the post suggests that, at full scale, the initiative could support creation of over 480,000 jobs and potentially increase Nigeria’s GDP by 1 to 2 percent.
For investors, the post points to C2FO’s strategic focus on emerging markets and supply-chain finance as a growth vector, with Nigeria serving as a high-impact proof of concept. Successful execution could strengthen C2FO’s positioning with multilateral institutions and banks, expand its addressable market in African working-capital solutions, and enhance revenue visibility tied to invoice financing volumes.
The collaboration with a local fintech partner and the IFC may also reduce entry risk by leveraging regional expertise and development finance support. However, investors may want to consider execution risks associated with credit, regulatory, and macroeconomic conditions in Nigeria, as well as the pace at which invoice adoption and platform scaling can translate into meaningful financial contribution for C2FO.